Everybody who do not get insurance coverage under the employer’s policy looks for an affordable insurance plan. As one age he looks for Medicare supplemental insurance (or Medigap) and long-term-care insurance.
AARP is a an advocacy organization and is a major name n the insurance industry. People over 50 yrs of age can by product through AARP.
Researches and expert advice helps us to conclude that policies by AARP are competitive and prove to be the best if one has health problems. It provides long term insurance cover at low rates and financial strength due to its partner, Genworth Financial.
AARP Health Insurance
For More than 50 years ago AARP’s mission is to provide affordable health insurance.
Plans are sold by AARP along with three traditional PPO (preferred provider organization) versions from Aetna. The policy is available in 31 states.
Premium plans are similar to conventional workplace policies. Eighty percent of the costs of care, prescription drugs, visits to doctor and hospitalization are covered.
High-Deductible Health Plans They offer low premiums but more financial responsibility is placed on the insured. The deductibles are $3,000 or $5,000 for singles; $6,000 or $10,000 for families.
Preventative and Hospital Plans cover for hospitalization and outpatient surgery and hence are more affordable. The Deductibles are $1,250 or $3,000 for singles; $2,500 or $6,000 for families. Full network costs for visit to doctors and prescriptions (excluding generics) is paid by you through your own pocket. They are not counted against your deductible.
These health plans have four prominent features:
∙ Poor health Conditions: The coverage is more affordable for patients who have high blood pressure, high cholesterol or are overweight.
∙ Medical Dependents: AARP members are insured dependents even if they don’t have cover for themselves. This is handy in cases where there is no family coverage offered by the employer.
∙ Preventive Care: All plans cover prostate exams for men, mammogram and gynaecological exam for women and flu shots whose price ranges from $20 to $40 co-pay, which depends on the plan.
∙ Premier Plan AARP is known to be the least expensive $5,000 and $1,500 deductible plans.
High-Deductible Plan AARP is one of the cheapest plan among the 5,000 deductible and $3,000 deductible categories.
Preventive and Hospital Plans: AARP is known to have the lowest possible deductibles as well as premiums, which is a rare offer among the plan that provides the least coverage.
Medicare Supplemental Insurance
Supplemental insurance are plans which cover in areas whenever Medicare falls short. For this, there are 13 standard Plans – A through L.
The the popularity of these plans can be credited to :
Wide acceptability: More than 90percent of the applications get accepted and are only rejected in cases of chronic kidney ailments.
Customer service: A 24-hour toll-free line is operated by AARP.
Rating: Always, Community rating is used.
AARP comes out strong in comparison to long term care policies as their policies cover and reduce the heavy financial expenses of stay in a nursing home or assisted living care.